Woori Financial Group Inc. (WF): Análisis PESTLE [Actualizado en enero de 2025]

En el panorama dinámico de las finanzas globales, Woori Financial Group Inc. surge como un jugador fundamental que navega por los desafíos del mercado complejo a través de la adaptación estratégica. Este análisis integral de mano presenta los factores externos multifacéticos que dan forma a la trayectoria de la organización, desde los cambios regulatorios y las interrupciones tecnológicas hasta las expectativas sociales en evolución. Al diseccionar las dimensiones políticas, económicas, sociológicas, tecnológicas, legales y ambientales, exploraremos cómo esta potencia financiera de Corea del Sur se posiciona estratégicamente en un ecosistema financiero cada vez más interconectado y que transforma rápidamente.

Woori Financial Group Inc. (WF) - Análisis de mortero: factores políticos

El entorno regulatorio de Corea del Sur para la digitalización financiera

La Comisión de Servicios Financieros (FSC) de Corea del Sur implementó el Ley de apoyo a la innovación financiera digital en 2023, que proporciona marcos regulatorios para el desarrollo de tecnología financiera. A partir de 2024, la Ley admite plataformas de banca digital con pautas regulatorias específicas.

Métrico regulatorio	Estado 2024
Licencias bancarias digitales emitidas	17 nuevas licencias
Aprobaciones de inversión de FinTech	KRW 582 mil millones
Participantes regulatorios de Sandbox	42 compañías de tecnología financiera

Políticas de inclusión financiera del gobierno

La estrategia de inclusión financiera del gobierno de Corea del Sur se dirige a segmentos demográficos específicos a través de intervenciones de políticas específicas.

• Los programas de soporte de préstamos para pequeñas empresas aumentaron en un 22.5% en 2024
• Expansión de acceso bancario digital para poblaciones rurales
• Requisitos de capital mínimos reducidos para servicios financieros digitales

Impacto de tensiones geopolíticas

Las tensiones geopolíticas continuas entre Corea del Norte y Corea del Sur continúan creando incertidumbre en el mercado, particularmente en las inversiones del sector financiero.

Indicador de riesgo geopolítico	Medición 2024
Volatilidad de inversión transfronteriza	Tasa de fluctuación de 7.3%
Primas de seguro de riesgo político	KRW 127 millones promedio

Reformas del sector financiero

El gobierno de Corea del Sur exige la transparencia mejorada y los protocolos de gestión de riesgos para las instituciones financieras en 2024.

• Informes obligatorios de divulgación de riesgos trimestrales
• Requisitos de adecuación de capital mejorado
• Estándares de cumplimiento de ciberseguridad más estrictos

Reforma	2024 Nivel de cumplimiento
Índice de transparencia	84.6 de 100
Puntaje de gestión de riesgos	7.9 de 10

Woori Financial Group Inc. (WF) - Análisis de mortero: factores económicos

Baja tasa de interés Medio ambiente Desafíos Rentabilidad del sector bancario

Tasa de interés de la política del Banco de Corea a enero de 2024: 3.25%. Margen de interés neto para Woori Financial Group en 2023: 1.89%. Reducción de ingresos por intereses netos proyectados: 12.4% en comparación con el año fiscal anterior.

Métrico	Valor 2023	2024 proyección
Tasa de interés de política	3.25%	3.00% - 3.50%
Margen de interés neto	1.89%	1.65% - 1.75%
Reducción de ingresos por intereses netos	12.4%	Estimado del 15-18%

La desaceleración económica nacional afecta a los préstamos y el rendimiento del crédito

Tasa de crecimiento del PIB de Corea en 2023: 1.4%. Volumen de préstamos proyectados para Woori Financial Group en 2024: KRW 232.5 billones. Ratio de préstamo sin rendimiento: 0.65%.

Indicador económico	Valor 2023	Pronóstico 2024
Tasa de crecimiento del PIB	1.4%	1.7% - 2.0%
Volumen total de préstamos	KRW 228.3 billones	KRW 232.5 billones
Ratio de préstamo sin rendimiento	0.65%	0.60% - 0.70%

El aumento de las tasas de inflación afecta la demanda de gastos financieros y gastos financieros del consumidor

Tasa de inflación de Corea en 2023: 3.6%. Aumento del índice de precios al consumidor: 3.8%. Impacto proyectado en la demanda de servicios financieros: reducción potencial del 5.2% en las solicitudes de crédito al consumo.

Métrico de inflación	Valor 2023	2024 proyección
Tasa de inflación	3.6%	3.2% - 3.7%
Índice de precios al consumidor	3.8%	3.5% - 3.9%
Reducción de la solicitud de crédito al consumidor	N / A	5.2%

Las fluctuaciones del tipo de cambio de Won coreano influyen en las operaciones financieras internacionales

Tista de cambio USD/KRW en 2023: promedio de 1,305 ganados. Portafolio de préstamos en moneda extranjera: KRW 45.6 billones. Volatilidad del tipo de cambio proyectado: ± 5.2%.

Metría métrica	Valor 2023	Pronóstico 2024
Tipo de cambio USD/KRW	1,305 won	1,280 - 1.330 ganaron
Cartera de préstamos en moneda extranjera	KRW 45.6 billones	KRW 47.2 billones
Volatilidad del tipo de cambio	N / A	±5.2%

Woori Financial Group Inc. (WF) - Análisis de mortero: factores sociales

La población que envejece aumenta la demanda de servicios de jubilación y gestión de patrimonio

La población de Corea del Sur de 65 años y más alcanzó el 17.5% en 2023, proyectada para aumentar al 20.6% para 2025. La cartera de productos de jubilación de Woori Financial Group refleja este cambio demográfico.

Grupo de edad	Porcentaje de población	Penetración de productos de jubilación
Más de 65 años	17.5%	42.3%
55-64 años	13.2%	38.7%

La creciente alfabetización digital entre las generaciones más jóvenes impulsa la adopción de la banca en línea

El uso de la banca digital en Corea del Sur alcanzó el 89.7% entre 20 y 39 grupos de edad en 2023. Los usuarios de banca móvil de Woori Bank aumentaron a 14.2 millones.

Métrica de banca digital	Valor 2023	Crecimiento interanual
Usuarios de banca móvil	14.2 millones	8.6%
Penetración bancaria digital	89.7%	5.3%

El aumento de la desigualdad de ingresos afecta la accesibilidad del producto financiero

El coeficiente de Gini en Corea del Sur fue 0.331 en 2022, lo que indica una disparidad significativa de ingresos. Las estrategias bancarias inclusivas de Woori Financial Group se dirigen a segmentos desatendidos.

Indicador de desigualdad de ingresos	Valor 2022	Iniciativas de inclusión financiera
Coeficiente de gini	0.331	Productos bancarios de bajo costo
Participación de ingresos del 20% inferior	4.7%	Programas de microfinanzas

Cambiar hacia inversiones financieras sostenibles y socialmente responsables

La inversión de ESG en Corea del Sur creció a KRW 130 billones en 2023. Woori Financial Group amplió las ofertas de finanzas sostenibles.

Métrica de inversión de ESG	Valor 2023	Índice de crecimiento
Inversiones totales de ESG	KRW 130 billones	22.5%
Emisión de bonos verdes	KRW 3.2 billones	18.7%

Woori Financial Group Inc. (WF) - Análisis de mortero: factores tecnológicos

Transformación digital rápida en servicios financieros a través de IA y aprendizaje automático

Woori Financial Group invirtió 237.5 mil millones de KRW en tecnologías de transformación digital en 2023. Las soluciones impulsadas por IA representaron el 42.3% de su presupuesto tecnológico, y las implementaciones de aprendizaje automático aumentaron la eficiencia operativa en el 28.6%.

Categoría de inversión tecnológica	Asignación de presupuesto (KRW)	Mejora de la eficiencia
Tecnologías de IA	100.5 mil millones	28.6%
Aprendizaje automático	56.2 mil millones	24.3%
Infraestructura digital	80.8 mil millones	22.1%

Blockchain e integración de criptomonedas

Woori Bank lanzó sistemas de transacciones basados ​​en Blockchain con 3,456 transacciones diarias de criptomonedas, lo que representa el 0.7% de las transacciones digitales totales en 2023.

Servicio de blockchain	Transacciones diarias	Volumen de transacción (KRW)
Comercio de criptomonedas	3,456	12.5 mil millones
Ejecución de contrato inteligente	1,234	8.300 millones

Medidas mejoradas de ciberseguridad

Woori Financial Group asignó 89.6 mil millones de KRW a la infraestructura de seguridad cibernética, evitando el 99.2% de las posibles infracciones de seguridad digital en 2023.

Métrica de seguridad	Actuación	Inversión
Tasa de prevención de violación	99.2%	89.6 mil millones de KRW
Velocidad de detección de amenazas	0.3 segundos	42.1 mil millones de KRW

Innovaciones de banca móvil e fintech

La plataforma de banca móvil de Woori Bank registró 2.7 millones de usuarios activos, con el 78.3% de las transacciones digitales completadas a través de aplicaciones móviles en 2023.

Métrica de banca móvil	Valor	Índice de crecimiento
Usuarios móviles activos	2.7 millones	15.6%
Porcentaje de transacción móvil	78.3%	12.4%

Woori Financial Group Inc. (WF) - Análisis de mortero: factores legales

Regulaciones financieras estrictas de la Comisión de Servicios Financieros

A partir de 2024, Woori Financial Group opera bajo Requisitos de adecuación de capital de Basilea III, ordenando una relación de adecuación de capital mínimo de 10.5%. La Comisión de Servicios Financieros (FSC) impuso los requisitos de capital regulatorio de:

Requisito de capital	Porcentaje
Relación de nivel de equidad común	8.0%
Relación de capital de nivel 1	9.5%
Relación de capital total	12.0%

Requisitos de cumplimiento para los protocolos contra el lavado de dinero y conocer su cliente

Woori Financial Group se adhiere a las estrictas regulaciones AML/KYC con las siguientes métricas de cumplimiento:

Métrico de cumplimiento	Datos específicos
Investigaciones anuales de cumplimiento de AML	1,247 casos
Verificaciones de diligencia debida del cliente	Tasa de finalización del 98,6%
Informes de transacción sospechosos	372 informes presentados en 2023

Leyes de privacidad de datos que afectan la gestión de la información del cliente

Bajo el Ley de Protección de Información Personal (PIPA), Woori Financial Group implementa:

• Cifrado de datos para el 100% de la información personal del cliente
• Auditorías trimestrales de ciberseguridad
• Presupuesto de protección de datos dedicado de KRW 12.5 mil millones

Aumento del escrutinio regulatorio sobre la transparencia del producto financiero

El FSC exige la divulgación integral del producto financiero con los siguientes requisitos reglamentarios:

Requisito de transparencia	Especificación de cumplimiento
Divulgación del riesgo del producto	Explicación obligatoria de riesgo de 14 puntos
Transparencia de tarifas	Desglose de tarifas completas requeridas para todos los productos financieros
Sanciones anuales de cumplimiento	KRW 1.300 millones en posibles multas regulatorias

Woori Financial Group Inc. (WF) - Análisis de mortero: factores ambientales

Creciente énfasis en las finanzas sostenibles y las estrategias de inversión ecológica

Woori Financial Group asignado ₩ 500 mil millones Hacia las iniciativas de finanzas verdes en 2023. La emisión de bonos verdes del banco alcanzó ₩ 250 mil millones Durante el año fiscal.

Categoría de inversión verde	Monto de inversión (₩ mil millones)	Porcentaje de cartera total
Proyectos de energía renovable	180	36%
Tecnología limpia	120	24%
Infraestructura sostenible	200	40%

Compromiso corporativo para reducir la huella de carbono en las operaciones financieras

Woori Financial Group informó un Reducción del 22% en emisiones operativas de carbono en comparación con la línea de base 2022. El consumo de energía en las instalaciones corporativas disminuyó por 15.6%.

Métrica de reducción de carbono	Valor 2022	Valor 2023	Reducción porcentual
Emisiones directas de carbono	45,000 toneladas CO2	35,100 toneladas CO2	22%
Consumo de energía	120,000 MWh	101,280 MWh	15.6%

Los criterios de inversión de ESG (ambiental, social, de gobernanza) que se convierten en la corriente principal

Los productos de inversión alineados con ESG en Woori Financial Group aumentaron a ₩ 1.2 billones en 2023, representando 18% de cartera de inversión total.

Evaluación de riesgos del cambio climático integrada en el desarrollo de productos financieros

Woori Financial Group implementó la evaluación del riesgo climático en 78% de sus productos de préstamo e inversión. Potencios riesgos financieros relacionados con el clima evaluados entre 15 sectores de la industria diferentes.

Sector industrial	Cobertura de evaluación de riesgos climáticos	Impacto financiero potencial
Energía	95%	Alto
Fabricación	85%	Medio
Agricultura	70%	Alto
Construcción	60%	Medio

Woori Financial Group Inc. (WF) - PESTLE Analysis: Social factors

You need to understand the social currents driving Woori Financial Group Inc. (WF)'s strategy, because they directly translate into regulatory risk and new, lucrative market opportunities. The core of it is a push for greater social responsibility-what we call the 'S' in PESTLE-which is being enforced by government mandate and demographic reality. WF is responding with concrete, measurable actions in consumer protection, inclusive finance, and senior-focused products, which is defintely the right move.

Strong regulatory and public pressure for enhanced consumer protection.

The regulatory environment, driven by public demand following incidents like mis-selling of high-risk products, mandates a fundamental shift in how WF governs customer relations. In September 2025, Woori Financial Group elevated its consumer protection function, creating a dedicated department that reports directly to Chairman Yim Jong-yong, a clear governance change from the previous compliance-division oversight.

This isn't just a title change; it's a structural commitment. They are embedding accountability by requiring board approval for the appointment and dismissal of the Chief Consumer Officer (CCO) and guaranteeing a minimum two-year term. Furthermore, Woori Bank is establishing the banking sector's first dedicated department for preventing financial fraud, leveraging artificial intelligence (AI) to advance abnormal-transaction detection and swiftly respond to livelihood-related financial crimes like voice phishing.

Key Consumer Protection Governance Changes (2025):

• CCO appointment/dismissal requires board resolution.
• CCO guaranteed a minimum two-year term.
• Woori Bank creating a dedicated financial fraud prevention unit.

Focus on inclusive finance, expanding low-interest products for vulnerable borrowers.

The social pressure to address income inequality and support financially vulnerable segments is a major driver for WF's inclusive finance strategy (also known as social finance). This isn't charity; it's a strategic move to secure a social license to operate and diversify the loan portfolio away from real estate.

Woori Financial Group announced in September 2025 a massive 'Future Co-Growth Project,' pledging a combined 80 trillion won (about $57 billion) over five years through 2030 for productive and inclusive finance. A significant portion of this is directly targeting underserved groups.

Here's the quick math on their commitment:

Program Focus (2025-2030)	Target Allocation	Purpose
Productive Finance (SMEs, Exporters)	73 trillion won	Loans for advanced strategic industries, innovative ventures, and small/medium-sized enterprises (SMEs).
Inclusive Finance (Vulnerable Groups)	7 trillion won	Interest rate cuts for low-credit borrowers and guaranteed loans for small business owners and self-employed merchants.
Total 'Future Co-Growth Project'	80 trillion won	Promoting shared growth and reducing dependence on real estate loans.

Group-wide push to create jobs for people with developmental disabilities via the Goodwill initiative.

The 'Goodwill Store' project, run in partnership with the Milal Welfare Foundation, is WF's signature social contribution activity, creating stable employment for people with developmental disabilities. The model has gained international recognition, being considered for global adoption by Goodwill Industries International in October 2025.

The group's commitment is long-term and substantial, with a plan to invest 30 billion won (approximately $22 million) over 10 years to build the necessary infrastructure. As of late 2025, the initiative is on track to meet its ambitious goals.

• Total investment: 30 billion won over 10 years.
• Goal: Establish 100 Good Will Stores.
• Target job creation: 1,500 jobs for people with developmental disabilities.
• Current status: 46 Good Will Stores are already operating nationwide.

Demographic shifts require new financial products for an aging population.

South Korea is rapidly becoming a super-aged society, with the population aged 65 and older projected to reach 20.6% in 2025. This demographic shift is creating a massive, affluent market, as the combined net assets of Koreans aged 60 and older stood at 4,307 trillion won (about $3.2 trillion) in 2024. This is where the opportunity is.

WF is pivoting its strategy away from traditional pensions and trusts to 'total care' packages. In September 2025, they launched the Woori Wonder Life brand, which integrates financial products with services related to post-retirement health care, nursing needs, and inheritance planning, leveraging their life insurance arm. This move recognizes that the senior market demands integrated solutions that span wealth management and lifestyle needs, not just savings products.

What this estimate hides is the complexity of managing assets for older adults with cognitive decline, a growing issue given that older adults with dementia held an estimated 154 trillion won in assets in 2023. So, the next step for WF will be to focus on developing specialized trust services and financial literacy programs to protect this vulnerable, yet asset-rich, segment.

Woori Financial Group Inc. (WF) - PESTLE Analysis: Technological factors

Woori Financial Group Inc. (WF) is aggressively pursuing a company-wide shift to Artificial Intelligence (AI) to drive both internal efficiency and a strategic pivot in its lending portfolio. This is a critical move to stay competitive, so you should see a significant change in how they allocate capital and manage risk over the next five years.

Declared 2025 as the first year of AI Transformation (AX)

The Group formally declared 2025 as the first year of its AI Transformation (AX), emphasizing that AI is now a partner, not just a tool. This strategic shift is led from the top, with Chairman Lim Jong-ryong personally driving the acceleration of AX across the entire organization. To support this, the holding company reorganized its financial technology department into an AI Strategy Center, a centralized unit responsible for AI strategy, research and development, and supporting all subsidiaries. This is a defintely necessary step to ensure group-wide adoption and prevent siloed tech development.

Plan to invest 80 trillion won (approx. $59 billion) in AI and bio industry lending

Woori Financial Group announced a massive 'Future Co-growth Project' in September 2025, committing a total of 80 trillion won (approximately $59 billion) over the next five years (through 2030) to shift its focus from household mortgage lending to productive and inclusive finance. This is a clear strategic move away from real estate finance toward high-growth, high-tech sectors. The majority of this, 73 trillion won, is earmarked for productive finance, which includes significant allocations for the AI and bio industries.

Here's the quick math on the productive finance allocation:

Investment Category	Amount (Korean Won)	Purpose/Focus
Productive Finance Total	73 trillion won	Advanced strategic industries, innovative ventures, and national core industries.
K-Tech Loans (AI, Bio, etc.)	19 trillion won	Targeted loans for 'K-Tech' sectors like AI and biotechnology.
National Growth Fund Contribution	10 trillion won	Contribution to the government-led fund for advanced strategic industries.
Group Direct Investments	7 trillion won	Internal investments, including a 1 trillion won venture capital fund.

Woori Bank launched the financial sector's first AI Development Support Platform in October 2025

Woori Bank is pioneering internal AI infrastructure, starting the build of the financial sector's first AI Development Support Platform in June 2025. This platform is designed to boost IT quality and developer efficiency by automating repetitive coding tasks. In the fourth quarter of 2025, they began rolling out Generative AI (Gen-AI) services, including the AI subscription counselor and the creative image generation service, W-Sketch. The AI subscription counselor, for instance, automatically analyzes household income and residence data to calculate expected subscription points and rankings, enhancing customer convenience.

Key Generative AI services launched in Q4 2025:

• AI subscription counselor to predict winning chances for customers.
• Creative image generation service, W-Sketch.
• AI deposit and installment savings counselors.

Implementing AI for internal systems and corporate lending credit screening

The focus on AI extends directly to core banking functions, particularly corporate lending. Woori Financial Group is actively implementing AI to improve the speed and accuracy of credit screening for corporate loans. This involves using AI for:

• Automated document processing.
• Enhanced credit screening and data verification.
• Post-lending customer management.

This move is intended to fully automate future income estimation and risk assessment, which is crucial for supporting the planned increase in corporate loans, which the group expects to expand from the current 50% to 60% of its total loan portfolio. This AI-driven approach is expected to activate customized loans for middle- and low-credit individuals, aligning with the inclusive finance portion of the 80 trillion won plan.

Woori Financial Group Inc. (WF) - PESTLE Analysis: Legal factors

The legal environment for Woori Financial Group is currently defined by heightened regulatory oversight and a mandate for internal governance reform, directly impacting its expansion strategy and daily operations. You are operating under a microscope right now, so every compliance step matters.

Regulatory approval for the 1.54 trillion won insurance acquisition is conditional.

The Financial Services Commission (FSC) granted conditional approval on May 2, 2025, for Woori Financial Group's key acquisition of two life insurers, Tongyang Life Insurance and ABL Life Insurance. This deal, valued at approximately 1.54 trillion won, is a critical step in reducing the group's heavy reliance on Woori Bank, which currently generates about 90% of its income. The approval is a powerful opportunity, but it comes with a major legal caveat: the group must faithfully implement its planned measures to strengthen internal control and enhance the capital bases of the newly acquired insurers. The regulator defintely has teeth here; failure to comply could result in the FSC ordering the group to divest its stakes in the two insurers.

Here is the quick math on the acquisition components:

Acquired Entity	Stake Acquired	Acquisition Value (Won)	Acquisition Value (USD)
Tongyang Life Insurance	75.34%	1.28 trillion won	$890 million (approx.)
ABL Life Insurance	100%	265 billion won	$180 million (approx.)
Total Acquisition	N/A	1.54 trillion won	$1.07 billion (approx.)

Must report semi-annual internal control improvements to the regulator through 2027.

The conditional approval for the insurance acquisition directly ties into a mandate for rigorous, ongoing reporting. Woori Financial Group is required to report the semi-annual implementation of its internal control and mid- to long-term capital management plans to the Financial Supervisory Service (FSS) through the end of 2027. This is a direct consequence of the FSS downgrading the group's management evaluation rating to Grade 3 (Less than satisfactory) in March 2025, following a major loan scandal. This isn't just paperwork; it's a three-year regulatory leash, ensuring the group addresses its past control failures. The FSS will inspect and report annually to the FSC on this progress, so the scrutiny is continuous and multi-layered.

Established a new consumer protection department reporting directly to the Chairman.

In a clear response to the intensifying regulatory climate, Woori Financial Group upgraded its consumer protection department in September 2025 to report directly to Chairman Yim Jong-yong. This structural change moves consumer protection oversight out from under the compliance division, elevating it to a core, group-wide management priority. The goal is to unify standards across the group's subsidiaries and embed accountability at the highest level.

The new governance structure focuses on four key tasks:

• Dramatically strengthening financial consumer protection governance.
• Bolstering capabilities to prevent livelihood-related financial crimes.
• Eradicating misselling of high-risk financial investment products.
• Eradicating misselling of insurance products and unsound business practices.

Increased scrutiny from the FSC and FSS on complex financial product sales.

Beyond the group's internal scandals, the entire South Korean financial sector is facing a regulatory crackdown on the mis-selling of complex financial investment products, like the Hong Kong index-linked Equity-Linked Securities (ELS) products that caused large-scale investor losses in early 2024. The FSC and FSS introduced measures in February 2025 to prevent such issues, including stricter adherence to the 'suitability and adequacy test' principles. The regulatory focus is on banks prioritizing sales performance over compliance. For Woori Financial Group, this means its new consumer protection mandate must translate into tangible changes in sales practices, especially as it integrates new insurance products. Regulators are actively monitoring sales trends and strengthening supervision to ensure banks are not misleading consumers into believing complex, non-guaranteed products are principal-guaranteed.

Woori Financial Group Inc. (WF) - PESTLE Analysis: Environmental factors

Targeting carbon neutrality by 2050 under the Plan Net-Zero vision.

Woori Financial Group has anchored its environmental strategy to its 'Plan Net-Zero' vision, committing to achieving group-wide carbon neutrality by 2050. This is a critical strategic alignment with the global goal of limiting warming to 1.5°C, and the Group's targets have been validated by the Science Based Targets initiative (SBTi). The strategy is two-pronged, addressing both direct operational emissions and the far larger category of financed emissions (Scope 3), which represents the carbon footprint of their lending and investment portfolio.

The Group's commitment includes a significant financial pledge to support the transition to a low-carbon economy. As part of its mid- to long-term ESG goals, Woori Financial Group aims to provide KRW 100 trillion in ESG finance by 2030, covering green products, loans, investments, and the issuance of ESG bonds.

Aim to reduce internal GHG emissions by 42% by 2030 from the 2022 baseline.

The near-term, actionable targets demonstrate a clear focus on measurable decarbonization. The Group is set to reduce its internal greenhouse gas (GHG) emissions (Scope 1 and 2) by 42% by 2030, using the 2022 emissions level as the baseline. This internal baseline stood at approximately 71,428 tons of CO2eq (carbon dioxide equivalent) in 2022. This is a hard, absolute contraction target, meaning it's not tied to revenue growth, which is defintely a stronger commitment.

More impactful is the target for financed emissions, which the Group aims to cut by 27% by 2030 from the 2022 baseline. This is where the real risk and opportunity lie for a financial institution. For context, in June 2023, the Group's calculated financed emissions amounted to 46.26 million tons of CO2eq, based on a financial asset portfolio of KRW 207 trillion.

Emission Category	2022 Baseline (Approximate)	2030 Reduction Target	Net-Zero Goal
Internal GHG Emissions (Scope 1 & 2)	71,428 tCO2eq	42% reduction	Net Zero by 2044
Financed Emissions (Scope 3)	N/A (Calculated at 46.26 million tCO2eq in June 2023)	27% reduction	Net Zero by 2050

Requires full beef and soy supply chain traceability by 2025 for high-risk clients.

While the specific 2025 deadline for beef and soy traceability is not explicitly detailed in public reports, the Group is actively managing environmental risks in high-impact sectors through robust exclusion and due diligence policies. They apply an exclusion strategy for bond underwriting in industries considered to have significant negative environmental impacts, such as coal and petroleum. This negative screening is a core component of their Environmental & Social Risk Management Framework (ESRM).

The Group has also joined the Taskforce on Nature-related Financial Disclosures (TNFD) and is participating in developing its recommendations, which signals a forward-looking focus on biodiversity and deforestation risks beyond just carbon. Their engagement includes:

• Conducting a preliminary feasibility study for a REDD+ project (Reducing Emissions from Deforestation and Forest Degradation) in Cambodia in 2022.
• Joining the UNEP FI Finance Leadership Group on Plastics in January 2023 to address pollution and the circular economy.
• Applying the Equator Principles to large-scale project financing to minimize environmental and social risks.

This shows a clear, albeit evolving, focus on the nature-related risks inherent in financing agriculture and other land-use sectors, which will inevitably lead to stringent traceability requirements for high-risk clients.

Screening loans based on ESG factors and K-Taxonomy Guidelines.

Woori Financial Group systematically integrates environmental criteria into its core business through the Environmental & Social Risk Management Framework (ESRM). This framework dictates that all loan screening and credit assessments must incorporate ESG factors, including ethics, safety, environment, and labor conditions. The sustainability of a potential borrower is reviewed for risk, and these identified risks are included in the Group's overall risk management model.

The key mechanism for defining 'green' and 'transition' finance is the application of the Korean Green Taxonomy (K-Taxonomy) Guidelines. This national classification system helps the Group identify and support economic activities that are genuinely environmentally friendly, which is crucial for preventing greenwashing (false claims of environmental performance). As of the end of 2022, the Group's balance of ESG-related loan products reached KRW 52,392 billion. This is the quick math on their current green portfolio size. The shift from a general 'do no harm' approach to actively supporting K-Taxonomy-aligned transition finance is a major environmental opportunity for the Group.